Montis Financial LLC Buys Shares of 3,230 Edison International (NYSE:EIX)

Montis Financial LLC bought a new position in Edison International (NYSE:EIX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,230 shares of the utilities provider’s stock, valued at approximately $258,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. lifted its holdings in Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 157 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Edison International during the third quarter worth about $259,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Edison International by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 932,866 shares of the utilities provider’s stock valued at $81,243,000 after purchasing an additional 8,586 shares in the last quarter. Prime Capital Investment Advisors LLC grew its position in shares of Edison International by 23.7% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 15,968 shares of the utilities provider’s stock valued at $1,391,000 after purchasing an additional 3,060 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Edison International by 6.0% during the 3rd quarter. Victory Capital Management Inc. now owns 519,330 shares of the utilities provider’s stock worth $45,228,000 after purchasing an additional 29,554 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research note on Wednesday, January 15th. The Goldman Sachs Group cut their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Mizuho dropped their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and cut their price target for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

Edison International Price Performance

Shares of EIX opened at $57.01 on Friday. The company has a market cap of $21.95 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.07 and a beta of 0.87. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company’s fifty day simple moving average is $56.56 and its 200 day simple moving average is $74.55. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. On average, research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.